DraftKings Inc Warrants (DKNG)

[aCryptoKing]

Holy crap! With $11.50 warrant strike price AND warrants @ ~$2.86, that puts the costs for a DEAC share @ ~$14.50

Buyers have ~7 (seven) days remaining:

...eligible Diamond Eagle stockholders that wish to exercise their redemption rights must do so no later than 5:00 p.m. Eastern Time on April 7, 2020 by following the procedures specified in the definitive proxy statement/prospectus for the Special Meeting, when available.

With DEAC trading @ $11.95 (post-market tonight) that would mean the warrants are in the RED. Why buy here when the stock price is DROPPING? And, sports-gambling stocks are ALL riddled by the same Coron-a-pocalypse! A rare disease indeed,... but WITHOUT ANY sports events, games & gambling DEAC has NO REVENUES; & only HUGE on-going daily EXPENSES. That sucks!


Moreover, expect HEAVY DILUTION when the business deal closes (to very little FANFARE) as the various vc, bankers & funders scramble to liquidate-to-cash. There's hardly a reason to believe that sports are returning anytime soon & sellers won't be able to buy this cheaper-lower. And since DEAC has NO REVENUES,... I'm guessing they'll be inclined to dilute here SOONER rather-than-later.


Could be ROUGH SLEDDING here for awhile,... At least until they get back to taking-action. March 2021 Madness should be much better for this company; but until then it'll be MORE MADNESS (of the not-so-exciting variety) here... Unfortunately! Crazy times...